Religare takes 40% of asset manager IPRO.
Religare Enterprises, an India-based financial services conglomerate, has acquired 40% of Mauritius-based asset manager IPRO to access to sub-Saharan African markets, according to news provider VCCircle. IPRO manages about $300m.
In December, Religare acquired 55% of Landmark Partners, a US-based secondaries firm, for $171.5m and a majority of its Northgate Capital.
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